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#Google #Alphabet #Fitbit #Fitnesstracker  Google  parent company  Alphabet  will buy  Fitbit , according to an  announcement  Friday, putting the tech giant head-to-head with  Apple  in the fitness tracking space. The deal values Fitbit around $2.1 billion at a fully diluted equity value, according to the release. On Monday, Fitbit's stock surged more than 30% on news that Alphabet had made an offer to acquire the smartwatch maker. As of Monday's close, Fitbit's market cap sat at $1.5 billion, up $340 million from the previous trading day. As of the end of 2018, Apple owned about half of the global smartwatch market in 2018 in terms of units shipped, according to  Strategy Analytics . Google currently licenses its  Wear  operating system to companies such as  Fossil  but does not make its own smartwatch.  Following the announcement, Google's hardware chief Rick Osterloh released a  blog post  explaining how the acquisition can help Google advance its a

#Google #Alphabet #Fitbit #Smartwatch #Fitnesstracker Google  parent company  Alphabet  made an offer to acquire  Fitbit , a source familiar with the matter told CNBC Monday.  Reuters  first reported that Alphabet made the offer to buy Fitbit. Fitbit's stock was halted after skyrocketing more than 18%. The stock resumed trading and ended the day up 30.5%, adding more than $330 million to its market cap to bring it to around $1.5 billion. Fitbit shares are now up more than 12% for 2019. It's unclear how much Alphabet offered to buy Fitbit. The deal would make Alphabet a player in the wearable fitness tracking space, competing against the likes of  Apple , which recently released a new version of its popular smartwatch. Google licenses its  Wear  operating system to companies such as  Fossil  but does not currently make its own smartwatch. Google has described its hardware strategy as  "ambient computing,"  meaning users should be able to access it